newritings

August 15, 2008

The UN Global Compact Blacklists 630 Companies for Failure to Communicate on Governance

Filed under: Mwalimu (Vol 1.2. - Second Quarter 2008) — newritings @ 12:00 pm

The United Nations Global Compact Office has removed a total of 630 companies from its list of participants for failure to communicate progress on governance. The delisting policy was first implemented in January 2008, when 394 companies were removed from the participant list. Since then, an additional 236 companies have been delisted – bringing to 630 the total number of companies delisted since the policy was implemented. Companies that have been blacklisted are based all over the world, with almost an equal balance between the developing and industrialised countries. Many subsidiaries of well-known brands, such as L’Oreal, Hilton, Mitsubishi, and Barclays, also made the list.

Download the full list here.

The Global Compact is a voluntary initiative that seeks to advance universal principles on human rights, labor, environment and anti-corruption through the active engagement of the corporate community, in cooperation with civil society and representatives of organised labor, according to the UNGC website. In accordance with the Integrity Measures, introduced to the Global Compact in 2004 as a, companies are required to communicate annually to their stakeholders on progress made in implementing the ten principles of the UNGC.

The Global Compact’s policy on communicating progress asks participants to communicate annually to all stakeholders their progress in implementing the GC principles. Participants are also expected to submit a link to or description of their communication on progress to the Global Compact website and/or, Global Compact local network website. The 630 companies that have been delisted have failed to submit a communication on progress for three years in a row. The UNGC office states that the companies may seek reinstatement as an “active” participant to the Global Compact and to the list of participants on the Global Compact website if appropriate actions are undertaken.

Despite the large number of companies removed from the participant list, the overall number of participants continues to rise. During the first half of 2008, 701 new companies have joined the UN Global Compact, increasing the total number of business participants to 4619.

— Article from Ethicsworld

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2 Comments »

  1. Black Lists Of Dishonest Companies
    http://black-lists.com

    Comment by Leonid — December 5, 2008 @ 9:46 am | Reply

  2. […] La lista negra completa de las empresas removidas puede verse aquí. The UN Global Compact […]

    Pingback by Pacto Mundial remueve a 630 compañías de su listado Cuáles son — August 18, 2009 @ 5:56 pm | Reply


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